Filed under: News | Technology News
Dec 17 2012, 6:44am CST | by Luigi Lugmayr
Sprint today announced that it has entered into a definitive agreement to acquire the approximately 50 percent stake in Clearwire (NASDAQ: CLWR) it does not currently own for $2.97 per share,...
Drop to Full Story below YouTube Videos
Source: The Seattle Times
NEW YORK — Sprint Nextel has increased its bid for full control of its wireless-network partner Clearwire, seeking to persuade shareholders of the Bellevue company to reject a competing proposal from Dish Network. Sprint o ...
Full article at: The Seattle Times
More like this 2 hours ago
Source: The Seattle Times
Source: The News & Observer
Sprint Nextel Corp. on Tuesday opened its wallet a bit wider to gain full control of its longtime wireless network partner Clearwire Corp. and the valuable airwaves it owns. The Overland Park, Kan.-based wireless phone company ...
Full article at: The News & Observer
More like this 4 hours ago, 6:51pm CDT
Source: Daily Finance
Sprint Nextel may have realized for a while that it needed to raise its bid for Clearwire if it stood any chance of getting full control of its networking partner. But you'd better believe that without SoftBank's agr ...
Full article at: Daily Finance
More like this 5 hours ago, 5:31pm CDT
Source: Wall Street Journal
By Miriam Gottfried Clearwire's tale is shifting from seemingly endless saga to nail-biter.On Tuesday, Sprint Nextel raised its offer for the 49% of the wireless Internet provider it doesn't already own to $ ...
Full article at: Wall Street Journal
More like this 6 hours ago, 4:22pm CDT
Source: Street Insider
Market wrap for May 21st End of the Day: S&P 500 up 2.9 to 1,669.16; Dow Jones up 52.3 to 15,387.58; Nasdaq up 5.7 to 3,502.12 * Sprint (NYSE: S) submitted an increased offer to the Board of Directors of Clearwire (Nasdaq ...
Full article at: Street Insider
More like this 6 hours ago, 4:21pm CDT
Source: Wall Street Cheat Sheet
Only hours after it postponed its vote on Sprint Nextel Corporation’s (NYSE:S) offer because the latter had raised the bid, Clearwire has delayed the meeting by one more day. The meeting has been initially set for today, but bowing to pressure fr ...
Full article at: Wall Street Cheat Sheet
More like this 6 hours ago, 4:19pm CDT
Source: Bangkok Post
Sprint said Tuesday it was hiking its offer for the remaining shares of broadband service firm Clearwire, in the face of a rival bid from satellite TV group Dish Networks. Sprint said Tuesday it was hiking its offer for the ...
Full article at: Bangkok Post
More like this 7 hours ago, 3:49pm CDT
Source: Kansas City Business Journal
A digest of important news from sources selected by our local editors. Delivered weekday mornings. Sprint Nextel Corp. raising its bid price for Clearwire Corp. at the last minute on Tuesday bodes well for Kansas City, a former president of the Mokan W ...
Full article at: Kansas City Business Journal
More like this 8 hours ago, 2:50pm CDT
Source: The Bellingham Herald
OVERLAND PARK, Kan. — Sprint Nextel Corp. is offering 14 percent more than before for the stake in wireless data network operator Clearwire Corp. it does not already own, but a large shareholder said the offer was still inadequa ...
Full article at: The Bellingham Herald
More like this 9 hours ago, 2:01pm CDT
Source: LightReading.com
LAS VEGAS -- CTIA -- Sprint's tri-band LTE device pre-announcements in Las Vegas suggest it is increasingly confident it will soon be running a network over Clearwire Corp.'s 2.5GHz spectrum in the U.S. as it continues its M ...
Full article at: LightReading.com
More like this 9 hours ago, 1:46pm CDT
Source: San Diego Local News 1
Tea party activists want to show their unhappiness over extra IRS scrutiny with protest rallies. Tea party activists waving flags and signs, singing patriotic songs and chanting anti-IRS slogans protested outside federal buildings across the c ...
Full article at: San Diego Local News 1
More like this 9 hours ago, 1:40pm CDT
Source: Irish Times
Sprint Nextel has raised its buyout offer for wireless service provider Clearwire to $3.40 a share, but the new bid was not high enough to impress some investors. Clearwire shares almost immediately traded around the new offer price, having consistently ...
Full article at: Irish Times
More like this 9 hours ago, 1:35pm CDT
Source: Wall Street Cheat Sheet
Verizon Wireless (NYSE:VZ): Vodafone (NASDAQ:VOD) has reveled that it is perfectly comfortable with its Verizon Wireless joint venture, but if a better deal were to surface — one more beneficial than the status quo – it would explore it and take i ...
Full article at: Wall Street Cheat Sheet
More like this 9 hours ago, 1:31pm CDT
Sprint today announced that it has entered into a definitive agreement to acquire the approximately 50 percent stake in Clearwire (NASDAQ: CLWR) it does not currently own for $2.97 per share, equating to a total payment to Clearwire shareholders, other than Sprint, of $2.2 billion. This transaction results in a total Clearwire enterprise value of approximately $10 billion, including net debt and spectrum lease obligations of $5.5 billion.
The transaction consideration represents a 128 percent premium to Clearwire's closing share price the day before the Sprint-SoftBank discussions were first confirmed in the marketplace on October 11, with Clearwire speculated to be a part of that transaction; and, a 40 percent premium to the closing price the day before receipt of Sprint’s initial $2.60 per share non-binding indication of interest on November 21.
Clearwire’s spectrum, when combined with Sprint’s, will provide Sprint with an enhanced spectrum portfolio that will strengthen its position and increase competitiveness in the U.S. wireless industry. Sprint’s Network Vision architecture should allow for better strategic alignment and the full utilization and integration of Clearwire’s complementary 2.5 GHz spectrum assets, while achieving operational efficiencies and improved service for customers as the spectrum and network is migrated to LTE standards.
Sprint CEO Dan Hesse said, “Today’s transaction marks yet another significant step in Sprint’s improved competitive position and ability to offer customers better products, more choices and better services. Sprint is uniquely positioned to maximize the value of Clearwire’s spectrum and efficiently deploy it to increase Sprint’s network capacity. We believe this transaction, particularly when leveraged with our SoftBank relationship, is further validation of our strategy and allows Sprint to control its network destiny.”
Via Sprint.
Luigi Lugmayr
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.
blog comments powered by Disqus